The Bourse Régionale des Valeurs Mobilières (BRVM) is the regional stock market for all the eight (8) Member States in the West African Economic and Monetary Union (WAEMU), namely: Benin, Burkina Faso, Côte d’Ivoire, Guinea-Bissau, Mali, Niger, Senegal and Togo. The BRVM is an economic and a political institution and technical success story all in one. It is the only stock market in the world shared by several countries, run totally in digital format and integrated in a perfect manner.
The BRVM was established step by step:
- 14 November 1973: Signing of the Treaty to establish the West African Monetary Union (WAMU). The founding members were Benin, Burkina Faso, Côte d’Ivoire, Mali, Niger, Senegal and Togo. These countries were joined in 1997 by Guinea-Bissau;
- 17 December 1993: the WAMU Council of Ministers decides to establish a Regional Financial Market and assigns the West African Central Bank (Banque Centrale des Etats de l’Afrique de l’Ouest - BCEAO) to lead the project;
- 18 December 1996: the founding of the BRVM and DC/BR as limited companies. The venue of the event is Cotonou, Benin;
- 20 November 1997: the WAMU Council of Ministers installs a market regulation body called Conseil Régional de l’Epargne Publique et des Marchés Financiers - Regional Council for Public Savings and Financial Markets (CREPMF);
- 16 September 1998: the BRVM and DC/BR begin operations;
- 24 March 1999: Decentralized Electronic Trading is put in motion;
- 12 November 2001: transition to trading on a daily basis;
- 2 July 2007: shift from a Settlement/Delivery period of T+5 to T+3 (DC/BR);
- 16 September 2013: shift to continuous trading (BRVM);
- 10 June 2014: a "Stand-alone" index is created in the WAEMU financial market by Morgan Stanley Capital International (MSCI), a financial services company;
14 June 2014: BRVM is integrated into the MSCI and S & P Dow Jones indices.